HP net revenue grows eight per cent in Q1

Vendor improves operating profit by 20 per cent, earnings per share boosted by 28 per cent
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Hewlett Packard has published its financial results for the first quarter of 2010, with profits growing by eight per cent to $31.2billion.

This growth seems to have been boosted by the reduction of operating costs, with the company improving its operating margin by 20 per cent. In addition, HP was able to boast double-digit growth for its printer, server and PC divisions.

“HP is well-positioned to outperform the market,” said HP’s chairman and CEO, Mark Hurd. “The strength of our portfolio, leaner cost structure and accelerating market momentum give us the confidence to raise our full-year outlook.”

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